Ever since credit cards began featuring magnetic strips to hold personal information electronically, there has been very little innovation in terms of the way payments are processed by merchants. Now, fifty years after the advent of magnetic strips, it seems the credit card industry is ready to take its next big leap forward. The good ol' mates down in Australia have recently unleashed an exciting new technology that may provide a glimpse into the future of credit cards. The new innovation is called "Visa Contactless", and it works in conjunction with consumer iPhones.
